Investigation of Concurrent Technologies Corporation Comes to an End

June 06, 2014 15:00 ET | Source:Concurrent Technology Corp.

JOHNSTOWN, Pa., June 6, 2014 (GLOBE NEWSWIRE) -- David J. Hickton, U.S. Attorney for the Western District of Pennsylvania, today announced that the Government is closing its multi-year investigation related to Concurrent Technologies Corporation (CTC). The investigation concluded with no finding of CTC wrongdoing.

"CTC fully cooperated with the Government throughout this matter and produced substantial records for review," said Edward J. Sheehan, Jr., CTC President & Chief Executive Officer. "We are extremely pleased with the Government's decision and appreciate that this matter has been brought to a close. CTC has always been and will continue to be a federally compliant contractor."

CTC was named one of the World's Most Ethical Companies by Ethisphere Institute in 2012 and 2013. The Company was awarded the Defense Manufacturing Technology Achievement Award in 2013 by the DoD Joint Defense Manufacturing Technology Panel, the Gold Edison Award for Innovation in Material Science in 2013 from Edison Universe, named a Best for Vets Employer in 2013 and 2014 by Military Times EDGE Magazine, a Top 100 R &D Federal Contractor by Centurion Research, a Top 100 U.S. Government Contractor in 2007, 2008, 2010, 2011, and 2012 by Washington Technology, and received the Exemplary Employer Support Award by Employer Support of the Guard & Reserve (ESGR) in 2013.

"CTC is pleased to have this matter behind us," said Sheehan. "We appreciate all of our valued clients and industry partners who were supportive throughout this time. CTC will continue to provide outstanding services and solutions to our clients and a great work environment for our employees."

Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization providing innovative management and technology-based solutions to government and industry. As a nonprofit 501(c)(3) organization, CTC's primary purpose and programs are to undertake applied scientific research and development activities that serve the public interest. For more information, visit www.ctc.com.

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